Business Context and Reporting Period
Company: Forrester Research, Inc. (FORR)
Filing Type: Form 8-K (Current Report)
Report Date: February 12, 2026
Period Covered: Quarter and fiscal year ended December 31, 2025
This filing announces financial results for the fourth quarter and full year 2025. The company emphasizes the use of "adjusted financial results" to provide consistent comparisons, excluding specific non-recurring or non-cash items.
Key Financial Metrics
The filing text does not provide specific values for revenue, net income, cash flow, operating margins, debt levels, or liquidity ratios. It references a press release (Exhibit 99.1) containing these figures but does not include the numerical data within the 8-K body text.
Notable Adjustments Excluded from Reported Results:
- Goodwill Impairment: $83.9 million (Q1 2025) and $26.8 million (Q4 2025).
- Other Exclusions: Amortization of intangibles, gains/losses from investments, loss on sale of divested operations (Q3 2024), credit loss expense (2024), stock-based compensation, and restructuring costs (reductions in force and office space impairments).
Material Changes and Unusual Items
The filing highlights significant non-GAAP adjustments made to present "ongoing business" performance:
- Impairment Charges: The company recorded substantial goodwill impairment charges totaling $110.7 million across the first and fourth quarters of 2025.
- Restructuring: Costs associated with workforce reductions and office space asset impairments were incurred and excluded from adjusted results.
- Divestiture Impacts: Historical impacts from a divested operation in 2024 (loss on sale and credit loss expense) continue to be excluded for consistency.
Guidance, Outlook, and Risks
The filing text does not contain specific forward-looking guidance, revenue outlook, or management commentary regarding future performance. It notes that adjusted measures should be considered in addition to, not as a substitute for, GAAP measures. No specific risks or contingencies are detailed in this excerpt beyond the disclosed impairment and restructuring activities.
Investor Verification Checklist
- Verify the specific GAAP revenue and net income figures for Q4 and FY 2025 in the referenced Press Release (Exhibit 99.1).
- Confirm the total cash flow from operations and free cash flow for the period.
- Review the balance sheet for current debt levels and liquidity ratios.
- Assess the impact of the $110.7 million in goodwill impairments on the company's long-term asset base.
- Examine the details of the restructuring costs and the extent of office space reductions.